Dear Aragon Community,
We’re an Argentina based startup that is working on fiat-crypto financial platforms that reinvests 1/3 of the profits in social and environmental impact. We are impressed with the work and ideas that you have carried out within the Aragon Community in terms of transparency, governance and decentralization, and believe that this is a great place to ask you all for advice to carry out our ideas.
As of today, we have designed this transparent reinvestment and governance flow as follows:
2.1 AUTONOMOUS IMPACT PROTOCOL (AIP)
Due to corruption cases where funds destined to charity, humanitarian or environmental help have been diverted or misused into the corruption scene, we believe that this process should be decentralized and intermediary free. Moreover, when funds do arrive correctly to destination, they don’t serve the inicial designated purpose and are misused.
By designing the AIP, we seek to automate and decentralize:
- The separation of ⅓ of profits from every transaction in our platforms.
- The remittance of those funds to destination.
- The usage of the funds with authorized and pre accorded vendors.
The AIP reinvests the funds through the AIN.
2.2 AUTONOMOUS IMPACT NETWORK (AIN)
Although the AIP solves the corruption and fund diversion problems, companies can still choose in a centralized and unilateral way where the funds are destined and which projects they support. This takes the decision making power out of people’s hands and gives it to the company. Because of this, we believe in the design of the AIN.
The AIN works as a Token Curated Registry (TCR) where stakeholders will be able to decide themselves or designate a curator to use their stake in the approval or denial on NGOs and Individuals that apply to receive funds from the AIP.
This allows stakeholders to be the only ones who decide what entities deserve to receive funding for their social and environmental change initiatives. The stakeholders that freeze their funds to be part of the decision making will be the Autonomous Impact Network Council (AINC), and will be fully responsible for the criteria that shall be set on applicant organizations.
To carry this out, we’d be doing an ICO, for which the Token Utilities and incentives are the following:
- Governance of the AIN
- Fee discounts for our brokerage and exchange platforms
- With the usage of the token to pay fees, we’d be reinvesting 40% instead of 33% in impact.
- Paying NGO providers in crypto, which they can then sell for Fiat (We will provide them the service)
We’d love to hear what you think, listen to critics, new ideas, feedback, and anything that comes to your mind!
Our main goal is being 100% transparent, making sure that the 1/3 or 40% of funds get redirected to NGOs, and that people have an organized governance. We’d also like to discuss in what other ways we can incentivize users with the Token, how we can give more uses to it and how we can make the value proposition better.
Best of all!
The Lucus Team